RECORD ESTABLISHED

Sun (Auckland), Volume III, Issue 859, 31 December 1929, Page 10

RECORD ESTABLISHED

£8,000,000 IN AUCKLAND COMPANIES RETURN OF CONFIDENCE The record registrations of companies in Auckland in 1929 are taken in some quarters as a sign of renewed confidence in the business future of the largest city of New Zealand. THE record returns for the record -*■ period of 1928 were greatly exceeded. The total capital involved in the past year reached nearly £ 8.000,000. Fifty-nine public companies and 265 private make up the total of 324 concerns registered in 1929. In 1928, there were 275 formed, and in 1927, 266. The merging of well-established companies to operate on new bases was responsible for a portion ctf the increase, two large concerns, representing a capital of £2,500,000. coming under this head. The public companies involved capital of £6,140,500 —a tremendous increase on the £1,506,486 figure for 1928. Priate companies had capital to the extent of £1.740,961, against £975,949 for ie previous year. This year’s capital •as reached £7,891,461, in comparison A'ith £2,482,435 for the previous year. Deducting the £2.500,00 amount for the merger, the amount left is more than double the total registrations for 1925. The re-registration of the New Zealand Co-operative Dairy Company, first registered in 1919 with £1,500,000 capital, was the largest concern recorded. The Amelgamated Brick and Pipe Company. Limited, involved £350,000, and the Consolidated Brick and Pipe Investments, Limited, had a capital of £600,000. There were 22 concerns registered with a fixed capital of £50,900 or more. TOBACCO’S EXTENSION Among the ventures in tobacco production were the Empire Tobacco Corporation, Limited, with £250,000; Auckland Tobacco Growers, Limited, with £150,000; Pacific Tobacco Industries (Australasia), Limited, £90,000; the Standard Tobacco Company, Limited. £55,000; and Tobacco Growers (N.Z.), Limited, £25,000. These concerns were registered between May and July. Mining operations brought registrations of Waikato Carbonisation. Limited, £100,000; Wilton Collieries, Limited. £85,000, registered at that figure in April and having £15,000 added in October; the Tui Gold Mining Company, Limited, £25,000; the Talisman Dubbo Gold Mining Company, Limited, £20,000; Golden Dawn Goldmines, £20,000; and the New Zealand Guinea Exploration Company, Limited. £15,000. No fixed capital was recorded in the registration of the Dominion Mutual Assurance Association. The Waikato Finance Corporation, £250,000; the First National Mortgage Bond Corporation. £250,000; the Craig Investment Company, Limited, £150,000; Associated Investment Underwriters, New Zealand. Limited, increasing its £25,000 to £100,000: and Auckland Permanent Trustees, Limited, £IOO,OOO were registrations in finance and assurance. Civic Theatre, Limited, registered with £78,000, and Stadiums, New Zealand, Limited, with £IOO.OOO. Building interests brought these registrations: Hotel Auckland, Limited, £60,000; Hampton Court, Limited, £25,000: Marlborough Mansions, Limited, £20,000; and Blytheswood Flats, Limited, £20,000. To cultivate tobacco is the purpose °f. t,ie l ar » est private company, with £25,000. Fourteen private companies had capital of £IO,OOO or more. The Auckland Auto Racing Club, Limited, with £SO), had the smallest capital of the public concerns. One private company registered at £3 only. DIVIDEND MAINTAINED N.Z.-RIVER PLATE YEAR The 9 per cent, dividend paid last year by the New Zealand and River Plato Land Mortgage Company, Limited, will be recommended as *a final dividend for 1929 by the directors at the annual meeting to be held on January 13 in London. Advice cabled to the Auckland attorneys for the company reports that the profit for the year ended October 31, 1929, was £123,910. The final dividend recommended, less 4s in the pound income-tax, will absorb £63,000. The carrying forw'ard to the reserve of £15,000 will be recomended, and also the carrying forward of £45,910. The company’s results in the past three years have been:—

1029 1928 1924 Brought forward £45,793 £45,389 £44,839 Xet profit .. .. 78,117 78,404 75,050 £123,910 £123,793 £119,889 To reserve .. .. 15,000 15,000 15,000 Dividend, p.c. . . 9 9 8i Amount 63,000 63,000 59,560 Carried forward £45,910 £45,793 £45,389 The addition \ ill raise the reserve to £280,000.